Leasing a '03

I'm new to the forum and have been delighted with the wealth of information that is provided. With this in consideration, I am debating on whether to lease a '03 Cab - being offerred at $860 mo/60 months, $7800 drive-off, 10k miles per year - or not. Could anyone shed any light on if this is a "good" deal or not? Any feedback would be appreciated!

What's the MSRP on that car? $7800 drive-off is sort of high. What's the sales tax and luxury tax, and fees included, and how much do they want you to put down? The monthly payment is actually not bad.

I believe the MSRP is $82K. I'm in CA, sales tax is 7.75 - drive off is $5k, plus tax 1st mo., etc. comes out to $7900.

Hmm... I'd say it would be a good deal if you can get that monthly payment with 1-2k downpayment or less. Downpayment on a lease is bad.

I agree with the notion that a big down payment is bad. I also think a 60 month lease is bad. Thats five years! Lease it for 36 or 39 months. Rates are not that different. Good Luck, you will be pleased with the car itself, Im sure.

Hello, Here is a lease calculator..... <a href="http://www.leaseguide.com/calc.htm" target="_blank">http://www.leaseguide.com/calc.htm</a> Plug in your numbers and see if they look good..on a 5 year Pcar I would use a reidual % of about 58 to 60%. Hope this helps...

The residual factor for a 60 month lease with 10K miles per year is 51% This is according to the latest Porsche Lease Program.

[quote]Originally posted by John Murray: <strong>The residual factor for a 60 month lease with 10K miles per year is 51% This is according to the latest Porsche Lease Program.</strong><hr></blockquote> What is the residual for an '03 coupe on a 10K/yr 36 month lease? Is residual the same % on options as on base price? Thanks.

Thanks for all the info. I will keep everyone posted of any further developments! Looking forward to joining the club!

See if the dealership will go any lower either on the monthly payments or on the downpayment. There is usually quite a lot of room for negotiation in new 911 prices, $3-4k or more sometimes. Please let us know how you do, I'm looking into leasing as well and would like to know what kind of payment is possible (as in, how low can they go? )

jes999, The 36 month residual on a TT is 65%. I would expect the residual on a 996 would be in the low 60s.

It was mentioned on another thread that you hardly get anything back for options when you sell a car. If the leasing company is using a straight percentage of the selling price (including options) to calculate the residual, it might be worth loading it up with options!

Leasing companies use the MSRP and the residual% to get the residual value. Trust me, YOU will be paying for the options you order!

[quote]Originally posted by TestnDoc: <strong>Leasing companies use the MSRP and the residual% to get the residual value. Trust me, YOU will be paying for the options you order!</strong><hr></blockquote> Do you mean MSRP or the base price? My point is if they use the MSRP including options then it would be worth getting lots of options. But come to think of it, when I leased an NSX a few years back I was told the CD changer option would be factored into the residual, but the keyless entry option wouldn't be (those are the ONLY TWO options available on an NSX BTW!). So for a Porsche probably most options will NOT become part of the residual.

My car has many options including full carbon package and extra leather stuff and the options were all residualized at the same percentage as the MSRP of the base car. The lease was with Chase but I believe that Porsche Finance does the same thing.

Residual value = MSRP X residual%. The MSRP is used, not the base price.

I think 18000rpm's point is that because the options get residualized at 60-70% it is potentially a better deal to load a lease guy with options than a purchased car, where on resale you will not get paid much for them.